Compare 2 or 3 lenders to see what your total costs and APR would be.

Then, if you send in more principle payments, (i.e. the 15 yr loan), that incremental investment is yielding 4% to 5% (ie. the APR of the loan you're saving interest on).

If I used a heloc, I would refinance into a 30 year loan before the APR rate increases. 

I have been with Amex Apr 2016 with an everyday card with a limit of 2,000, then they auto increase it as you use it, then they pitched me the Platinum, I swiped it and got their $600 worth of bonus points (I believe I swiped 5-6k/mo, then I called them for a business and they recommended me the plum or plat, i took the plum and first month i moved all my purchases to test the limit of the card and see how far it goes, to my surprise, it got declined after going over 33k.

The real estate agent is suggesting that having a pre-qualification letter from a lending institution will be helpful but I doubt such a letter can be obtained in his financial situation.

(Upstate NY)Discover allows you to do unlimited bal transfers directly to bank account (cash) and then you have one year at 0% APR.My idea is bal transfer , then season funds 2 months in savings , buy and close (turnkey with tenant) 35 (max) (another 2 months)  rent will range 750 to 800.Leaving 8 months so FAR.Mortgage will be a 15 or 20yr (I am 24) which means as long as i can get 500 a month after mortgage 8x5 = 4000.I come out with only a balance of $1000 when 0% apr expires.I have reserves as well from my other properties but my mentor told me to think about creative financing .

We did buy with an FHA 3.125% APR loan and only 3% down loan, so the cash on cash is really good for now.

I am just trying to figure out the earliest I can find out about a pre-foreclosure and how many days that would give me before a courthouse sale.I guess I am spoiled because since Florida does judicial foreclosures and every county website has all of their documents online, all I have to do is search for Lis Pendens, export and put together a mailing list...not quite that simple but you get the idea.Looks like it may be a little more work than that but since it requires extra legwork that may be a good thing since not as many people are probably doing it.On a side note, I am looking at the following counties to move to...any advice or opinions? 

You only give him the completed holding fee documents to start with.. once approved then get him his copy of the lease... and notify him one way or the other.. his rent isn't due till the date of the lease, he can either give you a pre-signed check for send you one in the mail so you have it when it's been set up for.. keys as soon as he has all funds in. 

Looking at the APR helps because it gives a much better picture of your actual cost, but I will typically tell them all to quote me the exact same way: Give me current market rate at cost - no points and no lender credits.